HTC clarifies that its VR division will not be a standalone company

HTC has dismissed reports about claims that it is planning to make its VR business into a separate entity. Local media in Taiwan had claimed that HTC was planning to spin off the VR business into a separate division. HTC's Vive division looks into the Virtual Reality devices.

In a statement to investors, HTC revealed that the company's Chairwoman Cher Wang is not creating a new entity that handles VR. HTC unveiled the Vive Pre, a second generation VR headset at CES 2016. However, the VR division will continue to be a part of HTC contrary to media reports, the company has clarified.

Pre-orders for the VR headset will start from February 29 followed by which they will be shipped in April.HTC has also partnered with Valve, a video game developer to use its Valve Steam VR technology in its VR headsets.